Georgia HB 745: Public property; extend automatic repeals of certain provisions relating to writing off small amounts due to the state; provisions

Bill Text

25 LC 62 0179S/AP
House Bill 745 (AS PASSED HOUSE AND SENATE)
By: Representatives Martinez of the 111
th, Williamson of the 112
th, and Fleming of the 114
th
A BILL TO BE ENTITLED
AN ACT
To provide a homestead exemption from City of Loganville ad valorem taxes for municipal1
purposes in an amount equal to the amount by which the current year assessed value of a2
homestead exceeds the adjusted base year assessed value of such homestead; to provide for3
definitions; to specify the terms and conditions of the exemption and the procedures relating4
thereto; to provide for applicability; to provide for compliance with constitutional5
requirements; to provide for a referendum, effective dates, automatic repeal, mandatory6
execution of election, and judicial remedies regarding failure to comply; to provide for7
related matters; to repeal conflicting laws; and for other purposes.8
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:9
SECTION 1.10
(a) As used in this Act, the term:11
(1) "Ad valorem taxes" means all ad valorem taxes levied by, for, or on behalf of the City12
of Loganville for municipal purposes, except for any ad valorem taxes levied to pay interest13
on and to retire bonded indebtedness.14
(2) "Adjusted base year assessed value" means the sum of:15
(A) The previous adjusted base year assessed value;16
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(B) An amount equal to the difference between the current year assessed value of the17
homestead and the base year assessed value of the homestead, provided that such amount18
shall not exceed the total of the previous adjusted base year assessed value of the19
homestead multiplied by the inflation rate for the prior year plus 25 basis points; and20
(C) The value of any substantial property change, provided that no such value added21
improvements to the homestead shall be duplicated as to the same addition or22
improvement.23
(3) "Base year assessed value" means:24
(A) With respect to an exemption under this section which is first granted to a person on25
such person's homestead for the 2026 taxable year, the assessed value for taxable26
year 2024, including any final determination of value on appeal pursuant to Code27
Section 48-5-311 of the O.C.G.A., of the homestead; or28
(B) In all other cases, the assessed value, including any final determination of value on29
appeal pursuant to Code Section 48-5-311 of the O.C.G.A., of the homestead from the30
taxable year immediately preceding the taxable year in which the exemption under this31
section is first granted to the applicant.32
(4) "Homestead" means homestead as defined and qualified in Code Section 48-5-40 of33
the O.C.G.A., as amended.34
(5) "Inflation rate" means the annual inflationary index rate as determined for a given year35
by the commissioner of revenue in accordance with subsection (f) of this section.36
(6) "Previous adjusted base year assessed value" means:37
(A) With respect to the year for which the exemption under this section is first granted38
to a person on such person's homestead, the base year assessed value; or39
(B) In all other cases, the adjusted base year assessed value of the homestead as40
calculated in the taxable year immediately preceding the current year, including any final41
determination of value on appeal pursuant to Code Section 48-5-311 of the O.C.G.A.42
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(7) "Substantial property change" means any increase or decrease in the assessed value of43
a homestead derived from additions or improvements to, or the removal of real property44
from, the homestead which occurred after the year in which the base year assessed value45
is determined for the homestead. The assessed value of the substantial property changes46
shall be established following any final determination of value on appeal pursuant to Code47
Section 48-5-311 of the O.C.G.A.48
(b)(1) Subject to the limitations provided in this section, each resident of the City of49
Loganville is granted an exemption on that person's homestead from ad valorem taxes in50
an amount equal to the amount by which the current year assessed value of that homestead,51
including any final determination of value on appeal pursuant to Code Section 48-5-311,52
exceeds its previous adjusted base year assessed value.53
(2) Except as provided for in subsection (c) of this section, no exemption provided for in54
this subsection shall transfer to any subsequent owner of the property, and the assessed55
value of the property shall be as provided by law.56
(c) No person shall receive the exemption granted by subsection (b) of this section unless57
such person or person's agent files an application with the governing authority of the City of58
Loganville or its designee as will enable the governing authority of the City of Loganville59
or its designee to make a determination regarding the initial and continuing eligibility of such60
person for such exemption; provided, however, that any person who had previously applied61
for